State arrears continued to climb higher in October

The state’s arrears to the private sector have grown to 9.4 billion euros in the year to October, officials figures showed yesterday, explaining why the Greek market is choking to such an extent. In the year’s first nine months, the figure had stood at 9.2 billion euros.

The state’s overdue debts at end-October amounted to 8.7 billion euros, while unpaid tax returns came to 755.9 million euros, out of which 520.4 million were in the form of indirect taxes and 229 million in direct taxes.

More than half of the overdue debts concerned social security funds, which owe their suppliers some 4.6 billion euros, while the National Organization for Healthcare (EOPYY) owes no less than 2.3 billion euros. Hospitals owe 1.8 billion euros, ministries 915 million, local authorities 903 million and other state corporations 380 million euros.

Alternate Finance Minister Christos Staikouras has already presented the government plan for the repayment of its dues by the end of next year.